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In the short-run, a profit-maximizing monopolistically competitive firm sets its price:

A. equal to marginal revenue.
B. equal to marginal cost.
C. above marginal cost.
D. below marginal cost.

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Khushboo Goyal
Khushboo GoyalLv5
30 Aug 2020
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Related questions

The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically competitive firm will:

a. produce the output level at which price equals long-run marginal cost.

b. operate at minimum long-run average cost.

c. overutilize its insufficient capacity.

d. produce the output level at which price equals long-run average cost.

The theory of monopolistic competition predicts that in long-run equilibrium a monopolistically competitive firm will:

a. produce the output level at which price equals long-run marginal cost.

b. operate at minimum long-run average cost.

c. overutilize its insufficient capacity.

d. produce the output level at which price equals long-run average cost.

When a profit-maximizing firm in a monopolistically competitive market is in long-run equilibrium:

a. the demand curve will be perfectly elastic.

b. price exceeds marginal cost.

c. marginal cost is falling.

d. marginal revenue exceeds marginal cost.

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